SIAS claims meeting with Indonesian businessman was a “courtesy call”

Reports claim that Johnny Widjaja is a potential investor in Hyflux.

The Securities Investors Association (Singapore) (SIAS) has stated that their meeting with Indonesian businessman Johnny Widjaja was “much more in the nature of an introductory courtesy call”, according to a statement by SIAS founder & CEO David Gerald.

The statement debunks local media reports claiming that Widjaja aims to propose a deal to the preference shares and perpetual securities (P&P) holders of Hyflux.

However, SIAS clarified that their meeting did not have a “discussion of detailed terms.”

“Mr. Widjaja also did not propose any terms for the P&P holders during the meeting. Whilst SIAS is happy to meet with interested investors, SIAS strongly repeats its earlier call that any proposal by investors must include a firm offer for P&P holders and that the P&P offer terms should be made public as soon as possible for P&P holders’ consideration,” Gerald added.